"The #1 Residential Real Estate Brokerage in Arizona"...Phoenix Business Journal

Jeffrey Masich says, "Let's talk Arizona Real Estate"

To read or comment on all past blasts from the past on Blog with Jeff Masich about Arizona homes and land or real estate, click on this blog title link or see the following blogs that you are interested in.

Things to Do in Arizona for December 2014
Things to Do in Arizona for December 2014 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily: Things To Do in Arizona Scottsdale, Phoenix, Tucson and all around Arizona.

December is the month for Christmas, holiday light shows, shopping and for the winter visitors golf, hiking, dining and sunshine. See what there is to offer in Arizona. Check out the McCormick Ranch area Railroad Park in Scottsdale for a family favorite of a lighted wonderland and train rides plus treats at the general store and ice cream shop.

The Noftsger Hill Inn is a former elementary school in the previous turn of the century converted to a bed and breakfast. Very nice views, pleasant garden, spacious rooms and a museum of a town, culture and shool from days gone by. Enjoy a nice country breakfast before continuing your journey through the old west and present day Globe.

For more information http://noftsgerhillinn.com/index.php

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
Things to Do in Arizona for November 2014
Things to Do in Arizona for November 2014 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily: Things To Do in Arizona Scottsdale, Phoenix, Tucson and all around Arizona.

November is the month for football and Thanksgiving. The Cardinals are in the hunt for the playoffs and who knows....? Maybe the frist NFL team to host a Super Bowl in January. The Arizona State Sun Devils and the University of Arizona Wildcats meet again in the annual Territorial Cup. The Territorial Cup is the oldest onging football trophy in the United States dating back over 100 years!

What is really going on in Real Estate Reality TV?
What is really going on in real estate reality TV? Is it all for real? Of course not. Why are we hooked?

Attributes of a real estate flip TV show and what to watch out for:

1. Compelling characters (twins battling, husband wife challenges, flipping farmers, design on a dime...you name it)2. Artificial deadlines- create tension 3. Home disaster (mold, bugs, cracks) create anxiety4. Hard work....the contractors do most of the work but viewers love the images of the owner demolishing a wall with a sledge hammer5. Profit...how much money will you make....watch out, as some costs are often ignored (closing costs and carrying costs specifically). Shows tend to show the selling price less purchase price plus fix up costs6. Oooh Ahhh factor..during open house seeing potential buyer reactions mixed in with before and after pictures7. Getting Best Price for Contractor services and supplies....this is one of the most important things for an owner to do, yet it rarely addressed as it is too "boring" for viewers. 8. Flips Gone Bad...What did the home actually sell for?.....The selling price, carrying costs and closing costs are often not addressed as the show focuses on the fix up and not if it was successful or not. After all, the show was recorded during the fix up and the sale does not always go at the price hoped for. If the shoppers like the features of the remodel, the show often just ends there. Why scare off the viewers about flips gone bad for a home that sold at a loss?

The Gilbert-based flipper, who does most of his work these days in Milwaukee due to the narrow profit margins he found in the Valley, has perhaps a better understanding than most people of what goes into these shows.

"It's difficult for me to sit through any reality show, because I know so much about the formula," said Boardman, a former television-news cameraman, referring to the shows' need for a protagonist, an antagonist and an artificial deadline to stir up plenty of drama.

Although he doesn't want to ruin anyone's enjoyment of these shows ó they have their appeal, he admits ó the author of "Fixing and Flipping Real Estate: Strategies for the Post-Boom Era" ($19.99, Apress, 2012) is always happy to point out things he thinks the shows get wrong about the business. His top bugaboos include:

ē Showing just the "____" (glamorus) stuff. Most viewers probably realize there are lots of behind-the-scenes footage that will never air, and Boardman knows all too well that it's the pretty rooms and tension that make viewers tune in each week. But the failure to show any of the more mundane parts of the industry rubs him the wrong way.

"They show all the "____" (glamorous) parts," he said, "and I'd say 30 to 40 percent of my week is spent in front of a computer screen and, alternately, paying bills."

Indeed, if a camera crew did show up to film him, they'd probably find Boardman using QuickBooks financial software to track expenses or building Excel spreadsheets to chart schedules on all his properties. After all, there are more than just rehab costs to account for, he added.

"You have holding costs, which include property taxes, insurance and utilities, and there are also selling costs, which include Realtor commissions and title and escrow fees," he said, noting he has paid as much as 3 percent of a homebuyer's cost to get a deal closed. So a home he sells for $200,000 and cost him $40,000 to rehab can easily end up costing Boardman $60,000 total.

ē Inflated profit projections. The part of some shows where flippers talk about what they think they're going to sell their rehabbed house for is laughable, Boardman said.

"Nobody projects a loss, and you really have no idea until that house goes on the MLS (Multiple Listing Service) ó and you have people come to look at it ó what the true market is," he said.

The market is notoriously hard to predict, he said, adding there have been times he was sure he wouldn't get the asking price for one of his projects, then offers came in above that price. And then there are other occasions, when "you think you have a slam dunk and there are no offers and no one comes to look at it." He has seen the "wrong" cabinetry turn buyers away, while the "right" location ó three doors down from a client's grown daughter, in one case ó may prompt another buyer to pay thousands over a home's appraisal price.

ē Artificial drama. On many shows, Boardman said, flippers argue with contractors as a deadline approaches and tension mounts, seemingly putting the project in jeopardy. It makes for riveting entertainment, but Boardman said viewers need to remember much of this is just for show. Deadlines, he said, aren't usually that unyielding.

"Let's face it, we flippers aren't brain surgeons," he said. "If I go three to four days past the scheduled deadline I've created for myself, no one's going to die. If there's a problem, we want to fix the problem correctly, and everyone yelling and screaming at each other is an incredibly inefficient way to run a business."

Boardman said he has been approached about doing a reality show, but believes he wouldn't make a good subject because he's a pro who doesn't engage in screaming matches.

"It's like running any other successful business. You maintain good lines of communication with your maintenance crew and your administrative people and try to stay as even-keel as possible, because there are a lot of highs and lows in this business."

ē Glossing over negotiations. Due probably in large part to the proliferation of these shows, he said today's homebuyers are well educated about the real-estate industry and more demanding than ever during negotiations. They expect everything to be newer, or brand-new, even in a flipped home.

"If it's not, they'll call us on it," said Boardman, adding that now even the least expensive projects get brand-new materials ó travertine, upgraded cabinetry ó whether they're needed or not. But expectations can reach even more absurd levels, like when a would-be homebuyer sees a few cracked roof tiles and proceeds to question a home's structural integrity.

"We're not a custom builder, and we're not in the remodeling business ó we're flippers," Boardman said. "The finicky homebuyer can cause any rehabber to lose sleep and get gray hair, and they never show that on the reality shows." "

Meanwhile enjoy the entertainment value of the shows and some of the remodeling ideas. Don't however, think this is how it is done in the "real world". Preparation, work, and smart ideas win out.

Best "Patio Dining" with a View in Scottsdale
What are the best patio dining restaurants with a view in Scottsdale, Arizona. Well, see this list from the City of Scottsdale, Best Patio Dining in Scottsdale

Olive and Ivy restaurant on the canal southwest of Camelback and Scottsdale Road. Wander across the bridge and stroll through the downtown Scottsdale entertainment and arts district before or after dinner. Scottsdale Fashion Square Mall is close by. Don't miss the Soleri Bridge and Plaza public art exhibit nearby in walking distance: http://www.scottsdalepublicart.org/permanent-art/soleri-bridge-and-plaza

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonawww.ArizonaHomesLand.com
Things to do in Arizona for July 2014
Things to Do in Arizona for July 2014 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily: Things To Do in Arizona Scottsdale, Phoenix, Tucson and all around Arizona.

Yikes! Opie's house is for sale for $27 million. What would Aunt Bee say?
Yikes! Opie's house in on sale for $27 million. What would Aunt Bee say? Remember when little Opie was walking with his father, Sherrif Andy Griffith to the fishing hole? He did well.

Mr. Christie, further reports, "Ron Howard made his Hollywood acting bones playing small town, All-American boys. But Westchester County, N.Y., is a long way from Mayberry, and his home there is a lot bigger and grander than anything Opie would have lived in. There's six bedrooms, five full and four partial baths, and a two-bedroom guest house. The Howards lived in the house built for them for 20 years, but no longer need such a large house.

"Our children are grown, so it's time to move on, but the memories of this very special place will never leave us," said Howard."

Things to do in Arizona for May 2014 with live updates
Things to Do in Arizona for May 2014 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily: Things To Do in Arizona Scottsdale, Phoenix, Tucson and all around Arizona.

Tubing on the Salt River and for even more excitement Salt River Whitewater Rafting Season - White Mountain Apache Reservation , (not the tubing section of river), half-day, full-day, and overnight wilderness trips of up to 5 days, http://www.azroa.org

Many homes look exactly the same from the outside. The buyer when viewing the home from the street or on the real estate search engines may not even stop when driving or browsing to look at all of your inside improvements. The first main picture of the home on the internet or the appearance when diriving by needs to scream, "Honey...Stop the Car"!

How to do this you ask? Make the home look happy and inviting. Make it smile! Nobody wants to look at a grouchy person, same with your home.

Think about a distintive feature that will set your home apart from all of the others.

1. A Fountain2. An inviting curving path3. A porch with a rocker4. A Magnificent plant5. A Picket fence6. An Archway7. A Stunning door8. New spectacular shutters or awnings9. Planters under the windows and potted plants on the porch10. An American Flag

After, they get to the front door? According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:

If you don't feel like you know where to start call your Realtor, they know what improvements will get the "I think we could live here" response from buyers.

Feel free to contact me with any questions or comments. I would be pleased to help sellers in Scottsdale, Paradise Valley, Fountain Hills and the Phoenix metro area. A Realtor from my office can help you anywhere in Arizona.

Have you heard about self direct real estate IRAs and wondered how they work and how to get started?

A real estate IRA provides and alternative to investing in traditional stocks and bonds and allows the account holder to invest in income producing real estate.Here is a short video from Vantage about the real estate IRA: http://youtu.be/7jMAVKUDb7w

Real estate IRAs are often invested in with cash from the IRA without carrying a mortgage from the IRA or IRA account holder to comply with IRS rules. Per, Business Week and Lewis Braham, "Nor can investors employ a traditional mortgage to finance IRA properties. An IRA account doesn't allow its owner to be held personally liable for any unpaid debt. The only permissible loans are so-called non-recourse loans that use the property itself as collateral. These have higher interest rates than conventional mortgages, and any income earned with the portion of the property owned with this leverage is considered outside the IRA and fully taxable....As a result, most self-directed IRA real estate deals tend to be all-cash. For most people, the lack of easily available leverage creates concentrated portfolios of a handful of properties. That's why experts recommend multi-family rental properties with two to four apartments, instead of single-family rental homes; if you lose one tenant, you still have a second apartment rented."

What is an self directed IRA? According to Wikepedia, "A self-directed Individual Retirement Arrangement is an IRA that allows the account owner to direct the account trustee to make a broader range of investments than other types of IRAs."

There are limitations on the rules for investing in real estate IRAs that may result in penalties. Business Week reports, "Self-directed IRAs are complex legal structures that, if managed incorrectly, can lead to stiff penalties from the Internal Revenue Service. The primary mistake is any appearance of self-dealing, where you benefit financially or otherwise from the property in the account before the minimum distribution age of 59 1/2. That means if your IRA owns real estate, you or any immediate family members canít live in it or get any rental income from it directly. Otherwise, you could invalidate the status of your IRA account and be subject to a 10 percent tax penalty for the accountís value.

Moreover, all repairs, management and property tax costs must be paid with the IRAís funds. So you must either have a buffer in the account to pay for unforeseen expenses, or hope that the annual maximum allowable IRA contribution, currently $5,000, will cover costs. You canít even make repairs by yourself without your own ďsweat equityĒ being considered a contribution to the account."

Some investors keep 5 percent to 10 percent of their propertyís value in liquid securities such as cash or bonds to cover future repairs.

An investor, will need to choose a custodian to invest their self directed IRA assets into before purchasing a property. The custodian does not determine the value of the real estate purchase. The IRA investor makes these decisions. As Business Week reports, "Perhaps the biggest risk of self-directed IRAs isn't tenants bolting or tax twists but what you choose to put into it." Choose a Realtor that can help you determine a good property for purchase, do your homework and look at costs to bring the property to maket and manage the rental income. If you choose correctly there is a good return in a real estate IRA as opposted to the traditional stock and bond portfolios and the risk associated with those traditional investments.

For more information, check with your accountant and financial advisors.

Getting Pre Qualified For a Home Mortgage
Getting ready to purchase a new home? If so it is time to get pre qualified to:

1. Determine how much home you can afford2. Provide to your Realtor to start the home search3. Attach to your purchase contract to show the Seller that you are qualified

HomeSmart, the largest real estate broker in Arizona reported on teh importance of pre qualification, "When you begin the search for a new home, there is much preparation involved. The excitement of it can get to you and you want to dive right into the process. Sure, you can look for homes online, have a real estate agent start looking for homes for you and even begin visiting open houses. But, sometimes homes sell very quickly. Especially if they are well-maintained or in a desirable location. You could attend an open house for a home, fall in love, begin dreaming of where you will put furniture and then three other prospective buyers may submit offers that same day on a home.

Home sales can often be complicated and happen very quickly. In order to put yourself in the best position to have your offer accepted, you should be pre-approved for a mortgage loan. The process of getting approved can take some time and if the seller has to wait for your financing to come through, they may decide to go with someone elseís offer while waiting for you. Losing a home you love because you are not pre-approved for a loan, or because you qualify for less than the cost of the home, is a truly heartbreaking and frustrating experience.

When you prepare in advance and get pre-approved for a mortgage loan, your offer will be more desirable and you can be in your dream home sooner. The first step in the process of getting pre-approved for a home loan is to find a mortgage lender or bank that you want to work with. A mortgage lender will discuss what size loan you are looking to acquire, what size loan you will actually get pre-approved for, the different types of loans available to you, and how much of a monthly payment you feel comfortable with. One thing that will play a major role in mortgage loan pre-approval is your credit score. Your credit score will influence how much you are approved for, the interest rate you are approved for and the type of loan you are approved for. It is always wise to check your credit score beforehand and ensure there are no discrepancies. If there are, dispute any discrepancies immediately. Additionally, do whatever you can to improve your credit score before seeking loan pre-approval as this will help you qualify for the best loan possible.

You will be responsible for providing a significant amount of documents to be pre-approved for a loan. You will need to have proof of your income (recent pay stubs or W-2s from previous years work as proof of income) and you will also need proof of assets (bank statements or investment statements). You will need proof of employment as well as documentation of who you are (drivers license or social security card). Once a lender has all of this information, they will give you a number for which you are pre-qualified. While this number is a good representation of how much home you can purchase, it is not the final word on the subject. Once your documents and information have been submitted to an adjuster and considered and calculated, you will receive your loan pre-approval.

Loan pre-approval can take about one week but once you have this, you will be a much more appealing candidate for sellers. With your pre-approval in hand, you can happily and confidently submit an offer on your dream home and wait for it to be accepted."

See more at: http://blog.homesmartinternational.com/how-does-loan-pre-approval-work/#sthash.ZmDFiBhR.dpuf

So, don't wait. It is time to get started. By the way if you have moderate income, ask your lender and/or Realtor for information about free grants that they are aware of and are currently available. For example, right now there is the Home In Five program for FHA, VA loans in Maricopa County offering a grant of 5% of the loan amount. This may be used for down payment and/or closing costs. These grants change, but it well worth asking about when you get pre qualified.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonawww. ArizonaHomesLand.com
10 Tips to Quickly Improve Value of your Home before Putting up For Sale
How do I get the highest value for my home before putting it on the market? Great question!

"Consider taking advantage of these 10 tips for small improvements that can help to increase your homeís value. Many of them are easy to do and will make a significant difference.

Improve The Curb Appeal", as stated by HomeSmart the largest real estate broker in Arizona.

"First, it is easier to sell a home that is attractive on the outside. This is the first thing that prospective buyers notice when they stumble across your home. Fortunately, there are simple ways to improve your homeís curb appeal:

1. Add additional landscaping and plants.

2. Patch dead spots on your lawn.

3. Remove weeds.

4. Add mulch around plants.

5. Display potted plants on your front steps.

6. Improve your outdoor lighting.

A home that looks good on the outside is more inviting to potential buyers and will typically sell for more money.

7. Paint The Walls

One of the simplest ways to improve the interior of your home and add value is with a fresh coat of paint. Many homeowners can do this themselves to save money. When selecting a paint color, make sure to choose a neutral tone that is visibly pleasing to many. Bright wall colors, while fun, can make it harder when you are trying to sell.

8. Fix Deferred Maintenance

Many homeowners often defer home maintenance projects that are small and insignificant. For example, they put off fixing squeaky doorknobs or lose screws in the cabinet. When you are trying to sell a home, these minor details can make a big difference. Therefore, plan to fix them prior to selling. This way you will retain the value of your home.

9. Update The Lighting

In addition, many homeowners can increase the value and appeal of their homes by updating the lighting. Older lighting fixtures are noticeable immediately and can decrease the value of a home. Fortunately, these fixtures can be updated for a small cost. Visit your local hardware store for options that look more modern and appealing.

10. Upgrade The Kitchen

Finally, simple improvements can be made in the kitchen to help it look upgraded. For example, hardware can be added to cabinets for a custom look and feel. Also, standard wood cabinets can easily be upgraded with paint. In addition, a backsplash can be added for extra detail. Most of these details can be done without the help of a professional. They require a little time and expense, and will translate to a substantial increase in the value of your home.

If you want to sell your home, consider making some of these simple improvements in your.

Many are easy to do and will translate into more money when your home sells.

There are Things to Do in Arizona. Also, information on real estate related tax deductions in preparation for 2013 tax preparation. Time for a market evaluation of you home, take a look.

The polar vortex can hit Arizona too. For more information for Canadians and Northerners see the link.

Jeffrey Masich, Realtor, GRI, MBAHomeSmarthttp://ArizonaHomesLand.comScottsdale, Arizona
Things to Do in Arizona February 2014...Pitchers and Catchers Report!
Things to Do in Arizona for February 2014 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around Arizona.Are you and easterner or Canadian? Even though it is snowing back home here in the great desert southwest there are blue skies, palm trees and baseball! It is time for Pitchers and Catchers to report to spring training in the Cactus League.

Pitchers and Catchers report to Spring Training in February. Is Spring around the corner? The Cactus League opens this month.

This home in Buckeye on 19708 W. Primrose Lane is an example of a lower priced home at $219,000 with a barn with horse stalls plus a pool! This home is in the Phoenix metro area on the west side and is in commuting distance and also close to shopping and baseball, football, hospitals etc.

FHA Financing Limit Decreases for Arizona Contracts on January 1, 2014
If you are thinking of buying a home with 3.5% down on a FHA loan and the purchase amount will be in excess of $271,050, now is the time to buy, by December 31, 2013. The home does not have to close by this date but a contract must be signed and a FHA case number must be obtained by the buyer's lender.

The financed amount will decrease for contracts signed January 1, 2014. So if you are thinking of buying a home for $300K with a 3.5% down payment you may want to consider getting a signed contract by midnight on December 31, 2013.

A purchase price of $271,050 is the maximum for a 3.5% FHA down payment effective January 1, 2014 in Maricopa and Pima Counties in Arizona.¬

Your FHA lender must be able to get a FHA case number before the midnight deadline for the higher FHA loan limits to be approved.¬

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
Big 5,000+ sf Homes for Sale in Phoenix Arizona metro area
Are you looking for a larger home? There are many interesting homes in Maricopa County and the immediate fringe areas. To see those for sale in excess of 5,000 sf check here for an always up to date list with pictures, prices, details and map locations.¬ http://link.flexmls.com/zp327pc4n4j,12

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
Things to Do in Arizona for November 2013
Things to Do in Arizona for November ¬ 2013 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around Arizona.It is time for¬ Thanksgiving, changing of the colors in the high country, football, art festivals, golf and more!¬

Homes "For Sale" in Scottsdale Arizona
Scottsdale, Arizona one of the most recognizable tourist destinations in the world. Scottsdale is a wonderful place to live, with planned communities, top restaurants, shopping and golf courses, resort hotels and a mixture of the west, urban and "hipster" lifestyles.

Enjoy living in the beauty, serenity and warmth of the great desert southwest.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
Real Estate News October 2013
Stop by and get caught up on Real Estate news for October 2013 in Arizona¬ . Stay up to date on the latest events including new FHA rules for mortgage qualifications if you have had a past negative event.

Jeffrey Masich, RealtorHomeSmart¬ Scottsdale, Arizonahttp://ArizonaHomesLand.com
Mortgage rates drop for third consecutive week!
Home mortgage rates declined for the third consecutive week! Rates for 30 year mortgages declined to 4.22% for the week ending October 3, 2013.

For more information see the RIS Media report:¬ http://rismedia.com/2013-10-06/fixed-mortgage-rates-fall-for-third-consecutive-week/#!

This is encouraging news for home buyers.

Jeffrey Masich, RealtorHomeSmart¬ Scottsdale, Arizonahttp://ArizonaHomesLand.com¬
8 Remodeling Projects that actually Pay Off for a Seller
What to fix up when selling your home? Some projects will help your home sell, but won't necesarily pay you back for the $ put in. ¬ A new updated kitchen will help the house move but you may only get a 78% pay back on the project. Of course if the home does not sell and you are paying two mortgages selling the house quickly is very important.

So, roll up your sleeves and make your home shine in the areas that produce more "bang for the buck"!

Happy home selling.

Jeffrey Masich, RealtorHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com¬
31 Farmers Markets in the Phoenix Metro and Scottsdale
Summer is over, the weather is cooler. Time to get out of the house and the air conditioned grocery store. Support our local growers with one of the many Farmers Markets throughout the Phoenix metropolitan area including Scottsdale, Mesa, Glendale throughout Maricopa County.

Jeff Masich, RealtorHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things To Do" in Arizona October 2013- OctoberFest!
Things to Do in Arizona for October ¬ 2013 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around Arizona.It is time for OctoberFest! Look for many Fall Festivals and the changing of the colors for leaves in the high country, White Mountains, Bradshaw Mountains and in Flagstaff.

Homes for sale in Fountain Hills Arizona
Fountain Hills is directly east of Scottsdale, Arizona just north of Red Mountain and adjacent to the McDowell Mountains.

Fountain Hills is a wonderful family community with a quiet lifestyle yet close to Scottsdale and Freeway access to the entire Phoenix metropolitan area. Due the chaning elevations and many ravines many homes in Fountain Hills are custom homes or semi-custom.

The city is a great place to live with average prices just under those of Scottsdale in price/sf. Yet, Fountain Hills still has many majestic multi million homes with fantastic city light and golf course views as well as many more modest homes with interesting lot locations set in one of the many ravines.

Contact me here on this post or directly if you have any questions or comments about Fountain Hills.

Jeffrey MasichHomeSmartScottsdalehttp://ArizonaHomesLand.com
Paradise Valley Arizona Homes For Sale
Home prices are increasing in Paradises Valley as evidenced by these luxury homes.

Many sellers that have been waiting for prices to rise are now putting their homes on the market. Even if the homes are in need of work, investors are ready to pay top dollar to refurbish a home in Arizona's most affluent communtiy.

As the largest broker in Arizona, HomeSmart has witnessed continued growth in Paradise Valley and neighboring Scottsdale.

Paradise Valley is a small but affluent town in Maricopa County, Arizona and neighbors Scottsdale. According to the 2005 Census Bureau, the population of the town was 14,558. Despite the town's relatively small area and population compared to other municipalities in the Phoenix metropolitan area, Paradise Valley is home to twelve resorts, making it one of Arizona's premiere tourist destinations. It has very expensive real estate, with home prices often exceeding $1 million with many exceeding $10 million and some over $40 million. Paradise Valley has among the highest priced $/square feet homes in the stete of Arizona. Source of Data (Wikepedia).

Bounded by Camelback Mountain, Mummy Mountain and Piestawa Peak to the east, Paradise Valley is the place to be. If you are looking for a under $1 million home in Paradise Valley. Yes, these stll exist and are often excellent opportunities to put your refurbishing skills to work to produce a wonderful home that can soar in price, once complete.

FHA Decreases Wait Time to Qualify after Short Sale/Bankruptcy/Foreclosure

Good news for buyers. FHA is moving to decrease the wait time to qualify after a Short Sale, Bankruptcy or Foreclosure¬

¬ ¬

Per Ryan Halldorson of VIP Mortgage, "FHA announced that borrowers with foreclosure/short sale/bankruptcy "might" be eligible for FHA loans 12 months after the negative event."

"They require the borrower to document (with w2's and/or tax returns) that the negative event was caused by at least a 20% loss in household income for at least a 6 month period. They want to see 12 months of most recent on time rent payments, and a full recovery on credit for at least 12 months after the negative event (meaning no collections, late payments, etc.). Further, they want to see that previous negative credit appearing on the credit report was due to the loss in income rather than a history of late payments, collections and financial mismanagement. As with any major rule change, the lenders of the world....want further clarification from FHA on exactly what they will and will not accept on these files before qualifying borrowers for loans using these new rules." More information will be coming with "more specifics from FHA. The full FHA announcement on this rule change can be viewed by opening the .pdf from this link portal.hud.gov/huddoc/13-26ml.pdf "

Also good news for FHA, USDA and VA borrowers in Maricopa County, the Home In Five free grant program for up to 5% of the loan amount is still active.

Nestled near Camelback Mountain, surrounded by golf courses, lakes and multi-use paths, McCormick Ranch was the first truly master planned community beginning in the 1970s, showing Scottsdale leadership in thoughtful and meaningful growth leading to a better quality of life and enjoyment for citizens. McCormick Ranch is in the heart of Scottsdale, close to Fashion Square Mall, Scottsdale resort hotels, marvelous dining, golf, hiking, lakes, parks and excellent education.McCormick Ranch bike path

McCormick Ranch was started as an active ranch in 1942 by Merle Chaney and sold to the McCormick's in the mid-40's. It was the last large ranch located in the City of Scottsdale.

The transformation of the McCormick's Ranch was based on a master plan developed by Gruen Associates of Los Angeles and Scottsdale Environmental Planners and Consultants. Development began with infrastructure and amenities. The amenities had a dual purpose by providing aesthetics, which included two championship 18-hole golf courses, more than 25 miles of bicycle paths, public tennis courts, 130 acres of man-made lakes, two of which can be used for sailing and several that are stocked with fish.

When Kaiser-Aetna purchased the Ranch, it was the country's largest single piece of property sold for a planned community within city limits. Today McCormick Ranch contains 3,116 total acres. Kaiser-Aetna sold the remaining undeveloped acreage to Transcontinental Properties in 1980. Transcontinental then sold 1,120 acres to Markland Properties. (History excerpt from McCormick Ranch POA).

"Things To Do" in Arizona for August 2013
Things to Do in Arizona for August ¬ 2013 with live updates for the most current activities in the Grand Canyon State.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around Arizona.Head up to the White Mountains and the Mogollon Rim, Flagstaff or Prescott and stay cool!

Real Estate News In Arizona...July 2013
Things are happening in Arizona, temperatures and Real Estate prices are rising. For Real Estate News in Arizona for July 2013 take a look. Information on real estate and thngs to do in Arizona.

Home prices have increased 26% from a year ago to a median price of $185,000 through May in the Phoenix metro area.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
"Seller May Carry" Financing in Scottsdale, Paradise Valley and Northeast Valley
"Seller May Carry" interim financing detached homes are available in Scottsdale, Paradise Valley and Fountain Hills as well as the surrounding Northeast valley metro area of Phoenix. To see the homes in the NE Valley currently for sale that the owner is willing to carry interim financing: http://link.flexmls.com/zq5a5a2p6cr,12

For those buyers that are not yet ready to finance with a new Conventional or FHA mortgage, "Seller May Carry" interim financing of 3-5 years is a viable alternative. Sellers typically expect 15-30% down to accomodate the risk for those buyers that have cash but cannot obtain a new mortgage right now.

For those buyers that see prices on the rise, a "Seller May Carry" home in Scottsdale or Paradise Valey may be something to consider. True, the home's price may be higher with the Seller having to wait for payment but the ability to purchase a home now can be accomplished.

Yes, after the interim financing period is over the buyer with a job and good income may be able to qualify for a mortgage if they are waiting out the time period required after a short sale or foreclosure.

Canadian "Snow Birds" may be able to stay in US longer (8 months)
Canadian "Snow Birds" may be able to stay in US longer (8 months) with new Senate Bill For a the full article: http://ow.ly/mazqE

Per Realtor News, "Canadians who come to the U.S. to escape the cold weather may soon be able to stay longer.¬ A Senate bill has been proposed to allow retired Canadians 55 or older who own a second home, have a rental agreement, or a hotel reservation to receive a visa to stay in the U.S. for up to 8 months ‚ÄĒ which is two months longer than the current law."

"Things To Do" in Arizona...how about Tubing or "Mighty Mud Mania"?
Things to Do in Arizona for June ¬ 2013 with live updates for the most current activities in the Grand Canyon State.

Get in the pool, go tubing in the Salt River or maybe the "Mud" in Scottsdale?

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around.

The 38th Annual Mighty Mud Mania 2013 in Scottsdale will kick off the summer season: (courtesy of City of Scottsdale website):

¬

Saturday, June 8th, 2013

8 a.m. - 1 p.m.

Chaparral Park (5401 N. Hayden Rd)

Mighty Mud Mania offers muddy obstacles for people of all ages and ability levels. ¬ We even offer non-muddy activities for those who prefer not to get muddy!

Note: Due to lower pool attendance numbers over the past two years, the Chaparral Aquatic Center (this includes the pool, bathrooms and shower facilities) will not be open at Mighy Mud Mania 2013. ¬ We will have plenty of wash stations and restrooms in the park area. ¬ Please plan accordingly.

Obstacle Courses and Age Recommendations

‚ÄĘ 6 and Under: For our young "Mudders" the Mini Mud Obstacle Course and the town of "Mudville," complete with the Mudsissippi River for toddlers offer the perfect opportunity for safe muddy fun.

‚ÄĘ 7 to 12 years old: The Original Mud Course offers some exciting mud obstacles for kids looking to get dirty while having a great time.

EXTREME MUD COURSE: Grown Ups and Youth over 13 are invited to take it to the next level at Mighty Mud Mania 2013 on the newly added EXTREME mud course. This course will pose more challenging obstacles (not to worry ‚Äď no fire or barbed wire!) for adults and older children (recommended 13 and up). The fee for adults is $10 with proceeds going to support youth programs in Scottsdale. With us You can enjoy the EXTREME!¬ ¬

Location:

¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ The Extreme course will be located behind the Chaparral Aquatic Center‚Äôs pool ‚Äď look for directional signs on the sidewalks to point you in the right direction.

You and your family will be hungry after playing in the mud so make plans to enjoy lunch on-site at Mighty Mud Mania. ¬ A wide variety of food vendors will be on-site to cater to your cravings.

¬

Location

Chaparral Park, 5401 N. Hayden Road

(Southeast of Hayden and Jackrabbit)Mighty Mud Mania

Registration

Registration begins at 8 a.m. on event day. ¬ Children must be present to register and a permission slip is required. ¬ Mighty Mud Activities are all FREE for children but we do ask that every family bring a non-perishable food item to benefit the Vista Del Camino Food Bank. ¬ Food Drop Off‚Äôs will be at each registration site and information booths.

Free Summer Sunday Concerts are Back at McCormick-Stillman Railroad Park
The famous family friendly and free Sunday Summer concerts are back at McCormick-Still Railroad Park in Scottsdale through ¬ July 7.¬

Address:

McCormick - Stillman Railroad Park

7301 E. Indian Bend Rd. Scottsdale, AZ85250

United States

Per Arizona Key Travel Magazine,¬

"Looking for things to do in Scottsdale? Check out the FREE¬ concerts going on at McCormick-Stillman Railroad Park every Sunday from 7:30 ‚Äď 9:00 pm beginning May 5th, 2013 and running through July 7th, 2013. Bring a blanket or chair to hear a variety of favorite local bands. Train and carousel rides are available throughout all concerts. Train rides are $2 and carousel rides are $2 and children under the age of three ride free with a paying adult on either ride. Food will also be available for purchase. McCormick - Stillman Railroad Park, 480-312-2312."

Phoenix metro population surges...Poised to move to fifth largest passing Philadelphia
The Phoenix Metro area continues to surge in poplulation. Phoenix itself (excluding) suburbs added about 2,000 residents per month during 2012 increasing in population by about 1.7% to $1,488,750 according to the Arizona Republic and the US Census Bureau.

"Arizona is growing again.¬ Nearly all of the state‚Äôs largest municipalities gained population in 2012, the Census Bureau estimates." per Ronald J. Hansen, Arizona Republic May 23, 2013.

The real estate market in the Phoenix metro is booming too. Population is increasing and foreclosures and short sales are down. This has increased the demand for housing with a smaller supply of available homes for sale. The result? Prices continue to rise as the population grows.

Real Estate News in Arizona May 2013
What is new in Real Estate this month? Check in with my May 2013 newsletter with updates on Homes For Sale in Scottsdale and Phoenix, "things to do" in Arizona, tips on procrastination and handling multiple offers in today's market: May 2013 Real Estate Newsletter

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
Phoenix metro area getting national attention with rebounding real esate
The Phoenix metro area real estate market continues to strengthen, with prices increasing and the available supply of homes decreasing. Based on supply and demand and continued low mortgage rates prices are increasing. Demand remains strong as the economy has strengthened and pent of demand for home ownership is ever present..

The median "Sold" price for single family detached homes increased to $175,000 as sales for homes increased 23% in one month (March). The available supply of homes on the market decreased to a 2.5 month supply.

Some real estate Arizona facts presented by Tom Newell of First American Title on May 6, 2013 based on Arizona Regional Multiple Listing Service (ARMLS) and the WP Carey ASU School of Business and Real Estate, "Our Housing Market is getting national attention.....below is current market from ARMLS data....

‚ÄĘ¬ ¬ ¬ Inventory:¬ Even with the rise in new listings, total inventory declined 4.6% to 20,729 in March. Low inventory has been problematic for some time in the Valley. Currently we have a 2.54 Month Supply of Inventory!‚ÄĘ¬ ¬ ¬ Home Sales: March sales jumped by 1,531 sales, or 23.1%, to 8,153. A month over month gain of 23% was last seen in December 2010.‚ÄĘ¬ ¬ ¬ Median sales price increased 4.7% to $167,500, representing a 28.9% gain over the past 12 months. Average sales price showed a 3.3% gain to land at $223,500, indicating a 23.8% increase since March 2012.‚ÄĘ¬ ¬ ¬ Foreclosures pending dropped again in March to 10,189, following the downward trend started from their high of 50,568 in November 2009. This represents a 79.85% decline in foreclosures pending per month since the peak."

Tom Newell, also reported, "The following data is from ASU W.P. Carey School of Business with Michael Orr, Director Center of Real Estate Practice and Theory:

Single family home prices continued their upward trend between February and March, and are dramatically higher when compared with this time last year:‚ÄĘ¬ ¬ ¬ Median sales price is up 29.7% from $134,900 to $175,000‚ÄĘ¬ ¬ ¬ Average price per square foot is up 23.6% from $90.92 to $112.41

Townhouse/condo prices also show substantial gains over the past 12 months:‚ÄĘ¬ ¬ ¬ Median sales price is up 29.7% from $134,900 to $175,000‚ÄĘ¬ ¬ ¬ Average price per SQ/FT is up 23.6% from $90.92 to $112.41"

Sales and prices are expected to continue in the coming months by selected experts.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things to Do" in Arizona for May 2013
Things to Do in Arizona for May ¬ 2013 with live updates for the most current activities in the Grand Canyon State.

The 100 degree days are here! Get those pools ready. Plan trips to the cooler pine tree areas of Payson, Flagstaff, Prescott, Show Low and Alpine. Don't forget the Oak Creek in Sedona.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around.

Are free economic stimulus grants still available for buyers in Maricopa County, the largest county in Arizona? Yes!

The "Home in 5" down payment assistance program is available once again. This program provides a 5% grant (6% grant for veterans and military) that can be used for loan closing costs and down payment. The grant never needs to be repaid and there is no recapture tax of any sort upon the sale of the property. There is a not a requirement to be a first time homebuyer. The homebuyer just needs¬ to¬ buythe property as¬ their primary residence. This program can be used in conjunction with a FHA, VA, or USDA loan (cannot be used on a conventional loan). The income limit is $88,340/year but other than that, borrowers just need to qualify for a FHA/VA/USDA loan (640 minimum fico score). The current rate for this program is a 30 Year Fixed at 3.75%. There are normal loan closing costs plus a mandatory 1% discount, 1% origination, and $460 in program fees. The borrower does not need to get pre-approved for the program by the government.¬ Selected lenders are approved to process loans under this program.¬ Borrowers/agents can call/email to prequalify just like they would with any other type of loan program. Here is the link to the program website http://www.mcida.com/cm/content/home_ownership.asp

Are you outside of Maricopa County. Check with the Arizona Department of Housing for stimulus fund programs in other areas of the state:¬ http://www.azhousing.gov¬

Beautiful luxury homes for sale in Scottsdale, Arizona
Scottsdale, Arizona has some beautiful luxury homes on the market right now. To see homes priced over $1 million in the great desert southwest city of Scottsdale:¬ Scottsdale Luxury Homes For Sale

Scottsdale is the west's most liveable city with a great downtown, restaurants, five star resorts, golf courses, mountains and a gateway to the grand canyon state.

Bank owned homes still available in the Phoenix metro area
Lender or bank owned homes are still available in the Phoenix metro area market. These homes are also known as REO (Real Estate Owned) and have gone through a trustee auction process and have been forelcosed on by the lender. These available listings are down from last year but are still there for a buyer looking for a deal. Prices for these homes are typically lower than a short sale or a traditional sale. These lender owned homes are typically sill very low as compared to historic selling price highs in 2005 and 2006. To see the lender or bank owned REO homes currently for sale in the Phoenix metro area market:¬ http://link.flexmls.com/ub1j02wnwdn,12

Lender owned homes in the less than $150,000 price range are the hottest and often result in multiple bid situations the first week they are on the market. Cash buyers have an advantage in this $150,000 price range. The lenders selling these properties do not have to wait for buyer lender appraisals and approvals. However, financed deals are completed in more than 1/2 of the purchases in this less than $150,000 category. Buyers that finance with an FHA loan, for example, can apply for an FHA 203K loan to help with home fix up costs which are often needed.

Mortgage rates are still near record lows making buying a lender owned home an interesting possibility.

Feel free to contact me with any comments or questions.

Jeff Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com¬
Normal home sales now 74% of total in Maricopa County
The number of distressed sales (short sales and lender owned 'REO') as a percentage of total sales are continuing to decline in Maricopa County through March 2013. This is good for the market as traditional sellers are beginning to become more confident that they do not have to compete with lower priced distressed homes.

The result is continuing price increases in homes being sold in Maricopa County.

Per Rob Clang of Security Title, "Total re-sales in Maricopa County for March 2013 were 8,038.¬ (Lender owner) or REO closed totaled 854 which is 11% and short sales closed was 1,195 which is 15%. Normal sales closed was 5,990 which represents 74%." Normal or traditional sales at 74% is a healthy trend that is expected to continue. Mortgage rates remaining near historic lows also help bring stability to the Phoenix metropolitan area real estate market.

Mr. Clang further stated, "Pending inventory is up to 13,710. REO was at 1,300 which is 9% and short sales are at 5,023 which is 37% and normal sales pending have overtaken short sales pending for the third straight month at 7,388 which is 54%. Active inventory for Maricopa County is down to 12,948. REO active is 750 which is 6% and short sales are at 574 which is 4% and normal listings are at 11,626 which represents 90%! There is less than 2 months inventory in all but 5 cities!" Active inventory is defined as those homes available for sale without being under contract. Pending meants that a contract has been accepted but the homes has not yet closed.

Stability in the market price is expected this coming year.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things to Do" in Arizona for April 2013
Things to Do in Arizona for April ¬ 2013 with live updates for the most current activities in the Grand Canyon State.

The Boys of Summer start playing baseball this month, the wildflowers are out in the McDowell Mountain trails, Spring art festivals, hiking, art walks, pool season is around the corner.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around.

Have fun!

Jeffrey Masich, Realtor, GRI, MBAHomeSmart¬ Scottsdale, Arizonahttp://ArizonaHomesLand.com¬
Home prices expected to rise next two years in Phoenix Metro
The Arizona Republic predicted today that home prices will continue to increase during the next year as we are now in a "Sellers Market"

Many sellers are planning to wait it out for another year or two before placing their homes on the market as home prices come closer to values of 2004 and 2005.A reduced supply of home in the Phoenix metro, record high stock prices, lowe mortgage rates are creating a strong desire for homes.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com
Carefree Arizona...the name fits
Carefree Arizona...the name fits. Life without a care? No, not really but with the beautiful scenery, casual lifestyle and desert views the name is not too far off.

Typical of Carefree's character are its street names‚ÄĒTranquil Trail, Easy Street, Ho-and-Hum Roads and Long Rifle, Stagecoach and Bloody Basin‚ÄĒwhich reflect both its quiet, casual air as well as its Western heritage. The motto of Carefree is "Home of Cowboys and Caviar, Where the Old West Meets the New."

Carefree has a desert climate with hot summers and mild winters. There are 144 days annually with highs of at least 90 ¬įF(32¬ ¬įC), 68 days of at least 100 ¬įF(38¬ ¬įC), and six freezing nights per year. Information sourced here is partially from Wikipedia.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com¬
Least expensive detached homes in the Phoenix metro area
Yes prices are rising. However there are still some very good homes on detached homes in the Phoenix metro area. True, the least expensive will need fix up work. However, buying a home is hte American dream. To see the least expensive detached homes priced under $100K:¬ http://link.flexmls.com/wzm69mtrc6y,12

Phoenix? Is that anywhere near Scottsdale?
Phoenix? Is that anywhere near Scottsdale? You would be amazed, when you travel around the world natives from other countries have heard of Scottsdale. They may not have heard of Phoenix. It is strange with Scottsdale being a smaller city. However, Scottsdale has the resort hotels, famous golf courses, restaurants and art galleries. Known for the McDowell Mountain preserve and plentiful parks, bike/hiking trails, with city and ranch settings, Scottsdale is a wonderful place to live.

Jeffrey Masich, Realtor, GRI, MBAHomeSmartScottsdale, Arizonahttp://ArizonaHomesLand.com¬
Condos, Townhouses and Patio Homes For Sale in Scottsdale
There are some luxurious and also budget minded condos, townhomes and patio homes in Scottsdale. If you are budget minded and would like to purchase in Scottsdale for the first time there are still condos for less than $60,000. This is a great way to participate in all that Scottdale has to offer (restaurants, resort hotels, night life, golf, hiking and biking trails, shopping and art galleries) to name a few.

However, Scottsdale also has million dollar patio homes in guarded communities or with city light views.¬

The condos, townhomes and patio homes provide the right opportunity for the lock it and leave it winter visitor or for the young college graduate looking to purchase in Scottsdale.

To see all condos, townhomes and patio homes in all price ranges in Scottsdale, see what is for sale:¬ http://link.flexmls.com/x4hxczuriru,12 You can zoom in on the map link to see prices in downtown Scottsdale, central Scottsdale or North Scottsdale. South Scottsdale provides proximity to ASU and the SkySong technology center.

"Things to Do" in Arizona for March 2013
Things to Do in Arizona for March 2013 with live updates for the most current activities in the Grand Canyon State.

Spring has Sprung! Spring Training is underway, the wildflowers are coming out on the McDowell Mountain trails, Spring art festivals, March Madness, and get those tomatoes planted.

Check in often here as this list is updated daily:¬ Things To Do in Arizona¬ Scottsdale, Phoenix, Tucson and all around.

Have fun!

Jeffrey Masich, Realtor, GRI, MBAHomeSmart¬ Scottsdale, Arizonahttp://ArizonaHomesLand.com ¬ ¬
Maricopa County Home & Garden Show this weekend... Get Creative!
With Spring coming it is time to get your creative juices flowing!

The Maricopa County Home and Garden Show is this weekend March 1-3 at the University of Phoenix Stadium http://ow.ly/iaJI7 where the Cardinals play.

A great place to see examples of the newest in bathroom and kitchen design, new flooring, green features, backyard landscape designes and more. Everything is in one place. Bring your house or yard photos and get tips from the pros. There is an oppotunity to schedule visits for free estimates also.

Jeffrey Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://JeffMasich.com
Hey it snows in Scottsdale too... I am so glad it was not worse!
I have never seen it this bad before! A blizzard in Scottsdale, Arizona. Snow to the left and to the right. We survived though!

Here I am in within hours of the great blizzard of February 20, 2013. I am so glad it was not worse!

Hey, you Easterners, Scottsdale gets winter storms too you know.

I actually had to put on a jacket. The palm trees and snow...oh my! At one point, I actually had to turn the heat on.

Children had to drink cocoa! Puppies had to put sweaters on. I thought I owned a pair of gloves at one time but could not find them.

As you can see, I even had to go outside and brave the "elements".

All parts of the country have their weather challenges. I learned my lesson this time. I will be prepared for the next blizzard in Scottsdale.

There are sophisticated mountain homes and the Boulders Resort and the adjacent sister city of Carefree. Yet Cave Creek has it ranches, horse back riding and the popular down town home to wine and art festivals as well as week end motorcycle riders, eclectic shopping, western atmosphere and other week end activities. Try Harolds, Horney Toad, Frontier Town, El Encanto and Big Earls to name a few hangouts.

If you drive through Cave Creek, you cannot miss it. A recreation of the old west Frontier Town features cowboy shops, restaurants, wagons and picture taking opportunities.

Located along a scenic drive east of Carefree, within the Tonto National Forest, the Sears Kay ruin is one¬ of the best kept local secrets for hikers and nature lovers, Spur Cross is one of the newest and the¬ Cave Creek Recreation Area offers hiking and exploration.¬ ¬ This desert oasis provides any hiker and equestrian majestic views. The Go John Trail loops around a mountain...have an adventure!

As mentioned, Cave Creek has sophisticated homes built into the rocks and ranches surrounded by the beautiful desert surroundings and of the course the namesake "Cave Creek".

Cave Creek is a fun place to visit or live. Close to Scottsdale and yet a world away.

Fountain Hills, Arizona...More than just the "Fountain"
Fountains HIlls is more than the "Fountain" one of the tallest in the world and the namesake. Fountain Hills is close to Scottsdale, higher up with great views and golf courses. A nice central downtown area and the gateway along the Beeline Highway to Arizona's pine tree country towards Payson and on to Show Low and Alpine.

Many homes are custom or semi-custom build along the series of ridges and canyons throughout Fountain Hills. Areas like Eagle Canyon have spectacular views of the city lights of the Southeast Valley.

Jeffrey Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://JeffMasich.com¬
HUD owned homes in Phoenix metro area- Lowest Pricing
HUD owned homes are still available in the Phoenix metro area, although they usually do not last long. Why? HUD prices the homes agressively to attract buyers.¬

HUD owned homes are homes that have been foreclosed on an FHA guaranteed mortgage from the previous owner. Although the homes are sold "As-Is" they often provide a good value even though they often need some work. Homes that are in major need of repair are often sold at a trustee auction as the home will not qualify for many lender's requirements if listed on the MLS. The HUD owned homes available on the MLS through your Realtor usually meet enough requirements to be financed, but not always.

Typically, HUD makes the homes available for the first 10 days on the market to owner occupants only. This weeds out investors. All offers from owner occupant buyers received the first 10 days are opened before an investor can bid. HUD attempts to get the home to a homeowner and not a flipper.

After the purchase contract is accepted, HUD provides the buyer the opportunity to inspect the home listed on the MLS which is not the case for homes purchased at a trustee auction. If the buyer does not approve after the inspection, their earnest money is returned and they can move on.

Presently the supply of HUD homes is lower than it has been. Here are all of the HUD owned homes in the Phoenix metro and surrounding areas currently for sale as an example of what types of homes are available:¬ http://link.flexmls.com/zm4dcsc1k3f,12 A buyer needs to be on top of the market to look at new HUD listings as they occur to get their offer in during the first 10 days. Only your Realtor is authorized to place the HUD bid for a buyer. Multiple offers are common on HUD owned homes due to the pricing. Often, buyers bid above the list price but under the comparable market price to have their offers considered.

Besides HUD homes your realtor can also show you Fannie Mae owned homes, bank owned homes and homes up for an auction. There are bargains here also.

FHA loans will have mortgage insurance for the life of the loan and rates have increased to 1.35% of the loan from 1.25% or $113/month for each $100K borrowed. This goes into effect on June 3, 2013. In addition to the monthy fees, FHA has a 1.75% of the loan amount fee added to the loan at closing. The good news? For those that want to buy a loan FHA still has their 3.5% down payment which among the lowest available.

As reported by Ryan Hallsdorson of VIP Mortgage, "FHA will be extending the length of time that borrowers have to pay their monthly MI. ¬ FHA borrowers that make less than a 10% down payment will have to pay monthly MI for the life of the loan. ¬ FHA borrowers that make more than a 10% down payment will pay monthly MI for 11 years. ¬ These changes will be effective for case numbers assigned after June 3, 2013. ¬ The monthly MI payment percentage will also be increasing slightly for case numbers assigned after April 1, 2013. ¬

A 96.5% 30 Yr Fixed FHA loan will have monthly MI equal to 1.35% of the loan amount (1.25% is the current rate). ¬ 1.35% MI is equivalent to $112/month per 100k borrowed. The upfront mortgage insurance that FHA adds to the loan amount at closing remains unchanged at 1.75% of the loan amount. ¬

These increases are all tied to projections for FHA's financial stability going forward. ¬ For comparison sake, a 95% Conventional loan has no upfront MI and the monthly MI is roughly $55/month per 100k borrowed. ¬ Borrowers can also cancel the monthly MI once the principal balance reaches 80% on a Conventional loan."

A conventional loan has lower fees. However, if you must have a low down payment, FHA offers an alternative.

Jeffrey Masich, Realtor, GRI, MBA

HomeSmart Realty

Scottsdale

http://ArizonaHomesLand.com¬

McCormick Ranch in Scottsdale, Arizona is a great place to live!
McCormick Ranch in Scottsdale, Arizona is one of the oldest, if not the first, multi-builder planned communities in the US.

To see homes currently for sale in McCormick Ranch as an example of this wonderful planned community:¬ x4hkvimgjbq

Nestled near Camelback Mountain, surrounded by golf courses, lakes and multi-use paths, McCormick Ranch was the first truly master planned community beginning in the 1970s, showing Scottsdale leadership in thoughtful and meaningful growth leading to a better quality of life and enjoyment for citizens. McCormick Ranch is in the heart of Scottsdale, close to Fashion Square Mall, Scottsdale resort hotels, marvelous dining, golf, hiking, lakes, parks and excellent education.McCormick Ranch was started as an active ranch¬ in 1942 by Merle Chaney and sold to the McCormick's in the mid-40's. It was the last large ranch located in the City of Scottsdale.

The transformation of the McCormick's Ranch was based on a master plan developed by Gruen Associates of Los Angeles and Scottsdale Environmental Planners and Consultants. Development began with infrastructure and amenities. The amenities had a dual purpose by providing aesthetics, which included two championship 18-hole golf courses, more than 25 miles of bicycle paths, public tennis courts, 130 acres of man-made lakes, two of which can be used for sailing and several that are stocked with fish.

When Kaiser-Aetna purchased the Ranch, it was the country's largest single piece of property sold for a planned community within city limits. Today McCormick Ranch contains 3,116 total acres. Kaiser-Aetna sold the remaining undeveloped acreage to Transcontinental Properties in 1980. Transcontinental then sold 1,120 acres to Markland Properties. (History excerpt from McCormick Ranch POA)

The numbers are in! Arizona leads all states in "Sold Home" Price Increases

Arizona led all states in December with the highest year to year price increases for sold homes at 20.2%.

More buyers are in the market in Phoenix with inventory shrinking. This is another reason that prices have gone up. There are less distressed properties than two years ago. Also, buyers that are now able to qualify for a mortgage after waiting the three years, usually required, after their short sales were complete are back in the market.

As reported in the Arizona Republic on February 6, 2013, Christopher S. Rugaber of the¬ Associated Pressstated, "U.S. home prices jumped by the most in 6 ¬Ĺ years in December, with Arizona posting the highest surge among states.

The increases were spurred by a low supply of available homes and rising demand, indicated a report Tuesday by CoreLogic, a real estate data provider.

Home prices rose 8.3 percent in December compared with a year earlier, it said. That is the biggest annual gain since May 2006. Prices rose last year in 46 of 50 states:

- Including distressed sales, the five states with the highest home price appreciation in December were: Arizona 20.2 percent, Nevada 15.3 percent, Idaho 14.6 percent, California 12.6 percent and Hawaii 12.5 percent.

Overall home prices also increased 0.4 percent in December from the previous month. That‚Äôs a healthy increase given that sales usually slow over the winter months.

Steady increases in prices are helping fuel the housing recovery. They‚Äôre encouraging some people to sell homes and enticing would-be buyers to purchase homes before prices rise further.

Higher prices can also make homeowners feel wealthier. That can encourage more consumer spending.

Most economists expect prices to keep rising this year. Sales of previously occupied homes reached their highest level in five years in 2012 and will likely keep growing. Homebuilders, encouraged by rising interest from customers, broke ground on the most new homes and apartments in four years last year.

Ultra-low mortgage rates and steady job gains have fueled more demand for houses and apartments. More people are moving out into their own homes after doubling up with friends and relatives in the recession.

At the same time, the number of previously occupied homes for sale has fallen to the lowest level in 11 years.

‚ÄúAll signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery,‚ÄĚ said Anand Nallathambi, CEO of CoreLogic.

The housing recovery is also boosting job creation. Construction companies have added 98,000 jobs in the past four months, the best hiring spree since the bubble burst in 2006. Economists forecast even more could be added this year.

Housing has been a leading driver of past recoveries. But the bursting of the housing bubble pushed a flood of foreclosed homes on the market at low prices. That made it hard for builders to compete.

And a collapse in home prices left millions of homeowners owing more on their mortgages than their houses were worth. That made it difficult to sell.

Now, six years after the bubble burst, those barriers are fading. Some economists forecast that housing could add a point or more to economic growth this year."

Phoenix area home owners that have been waiting to list until prices increased may be listing this Spring. Look for more inventory to appear soon.

Jeffrey Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com¬
Yes! There are still lender owned properties in the Phoenix metro for sale
Short sales are the "new" foreclosure. Short sales and lender owned properties make up total "distressed" residential properties for sale in the Phoenix metropolitan mls. However, lenders are not foreclosing as quickly as they were two years ago. The lenders are preferring short sales to foreclosures.

The number of short sales on the market are increasing and the number of lender owned homes (also known as REO- Real Estate Owned) are decreasing. The result? The overall price of homes in the area is increasing.¬ Lender owned homes typically sell for less than traditional sale homes and usually less than short sales.

At the present time the number of lender owned REO homes for sale in the Phoenix metro has declined to 1,426 homes as of today. To see these lender owned homes currently for sale and observe their condition, location and concentrations see http://link.flexmls.com/ub1j02wnwdn,12 .There are still bargains to be had for buyers. Cash buyers have been acquiring lender owned homes rapidly during the past six months. However, as of late, the number of cash buyers (often investors) have been declining and more buyers with loans are becoming active in the market.

Jeff Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, AZhttp://ArizonaHomesLand.com¬
Investors interest to decrease? Phoenix area homes prices rise to $162,500
Investors may begin to rachet down in their interest in Phoenix area homes with pricing continuing to surge. Phoenix presently leads the major US metro markets in year to year selling price growth, The actual selling price for a median home rose to $162,500 through November which was up 35.4% from a year ago.

These sales growth numbers were reported by W. P. Carey School of Business at Arizona State University in an article written by Catherine Reagor of the Arizona Republic.

Ms. Reagor reported, "The number of cash buyers, who are usually investors, dropped, but regular buyers are still facing bidding wars because of the short supply of houses for sale. In November, 27.5 percent of the houses sold in metro Phoenix were purchased with cash. In August, investors were behind more than 35 percent of the area‚Äôs home sales.

Orr expects the number of investors purchasing houses in the region to continue to decline as prices continue to rise. The steady drop in foreclosures during the past year also has helped push up home prices because there are fewer bargains in the market". Mr. Orr stated per the Reagor article,¬ ‚ÄúBargain hunters haven‚Äôt got much left to pick over,‚ÄĚ

Buyers may face less competition later this year from cash buyers, however for right now cash buyers still represent a significant amount of the local market as multiple offers for homes are still common. If the prices offered for a home are similar the cash offer usually wins out. Why? The seller does not have to worry about the buyer qualifying for their loan, a bank appraisal of the property. Sometimes cash buyer's even waive their rights to a home inspection reducing the number of days to close. Cash makes sellers happy.

Home Prices Surge in Phoenix Metro Up 35.4%!
Home prices in the Phoenix metro area continued to surge through November 2012. Median selling prices for the total of homes sold rose to $162,500 which is 35.4% higher than a year ago.

The median selling price for traditional sale homes in the Phoenix area also increased (as a sub-category of the total) to $178,250. The total homes sold include traditional sales, short sales and lender owned (REO) properties.

The number of foreclosure homes on the market is decreasing along with short sales. It appears that individuals that have been considering a short sale are now willing to ride out the surging market for their home value to increase.

These, most recent selling price numbers were released according to the W. P. Carey School of Business at Arizona State University as reported in an article by Catherine Reagor of the Arizona Republic dated January 11, 2013.¬

According to Catherine Reagor's report, ‚ÄúWe don‚Äôt see a strong flow of new listings coming onto the market,‚ÄĚ said Mike Orr, director of ASU‚Äôs Center for Real Estate Theory and Practice. ‚ÄúFor example, short-sale listings are down about 70 percent compared to this same time last year. As the market improves, it seems many people may have decided to hang onto their homes in an effort to let values keep going up. I also anticipate another possible drop in supply this spring.‚ÄĚ

If this prediction from Mr. Orr of a reduced supply of homes in early 2013 is true, the basic 'supply and demand' pricing models will govern and many experts expect home prices in the Phoenix metro area to continue to increase in 2013.

Luxury Estates of Paradise Valley, Arizona
Paradise Valley is a small but affluent town in Maricopa County, Arizona and neighbors Scottsdale. According to the 2005 Census Bureau, the population of the town was 14,558. Despite the town's relatively small area and population compared to other municipalities in the Phoenix metropolitan area, Paradise Valley is home to twelve resorts, making it one of Arizona's premiere tourist destinations. It has very expensive real estate, with home prices often exceeding $1 million with many exceeding $10 million and some over $40 million. Paradise Valley has among the highest priced $/square feet homes in the stete of Arizona. Source of Data (Wikepedia).

5% Free Grant (6% for Veterans) for a Home Purchase in Maricopa County
The Home In Five program provides a free 5% grant for purchasing a home in Maricopa County, Arizona. This stimulus program is available through selected lenders, however this list is growing. Free is Good.¬

5% Free Grant (6% for Veterans)Current Interest Rate for a 30-year

fixed rate mortgage loan is 3.625%

¬

Per the informational website on the grant, "The Industrial Development Authority of the County of Maricopa and The Industrial Development Authority of the City of Phoenix, Arizona have joined together to help homebuyers obtain FHA, VA, or USDA-RD loan financing to purchase a home anywhere in Maricopa County, including the City of Phoenix. Through the Home in Five Advantage program, individuals or families who qualify would be able to obtain a 30-year fixed rate loan, with a non-repayable 5% down payment/closing cost assistance grant, with special incentives for qualified United States military personnel.

¬

Financing for these loans is available on new or existing homes, condominiums, townhouses or manufactured homes on a first-come, first-served basis, only through the Participating Lenders listed below.

All buyers must attend a homebuyer education course and obtain a certificate of completion, and receive a home inspection. ¬ A list of some HUD approved homebuyer education counseling agencies can be found at the link: ¬ http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?&webListAction=search&searchstate=AZ

¬

Program Eligibility:¬ 1. Homebuyers may purchase a home anywhere in Maricopa County, including in the City of Phoenix.

¬

2. Buyers must occupy the home as their principal residence within 60 days of closing.

¬ 3. The program may only be used to purchase a home (i.e., no refinancing).

"Things to Do" in Arizona for January 2013
Things to Do in Arizona for January, with live updates for the most current activities out and about our state: "Things to Do" in Arizona for January

10 Fun January Activities for the Whole Family

The weather outside may be chillyl, but it certainly doesn‚Äôt mean you can‚Äôt find ways to have fun! Here are 10 family-oriented ideas to undo the winter blues while you‚Äôre waiting for Mother Nature to warm up.

1.Break out the board games. Put away the Smart phones and have some family fun and interaction. A great way to laugh and communicate.

2. Put together a puzzle. Dig out that 1,000-piece puzzle, spread it across the living room coffee table and dig in!

3. Build a fort. Pull out the extra linens, gather the leftover Christmas cardboard boxes and put together a fort that can hold the whole family.¬

4. Go for a hike:. The McDowell Mountain Preserve in Scottsdale has over 20 miles of trails for all skill levels.

6. Head to the Snow. Head north to Flagstaff or Show Low for a burst of exercise and a little competition. Snowballs, sledding and Snowmen. Be sure and set rules (and the consequences for not following them) ahead of time.

7. Get Crafty. Use white printing paper and show your kids how to make snowflakes. Or make homemade silly putty and let the kids be the masters of their own creations!

8. Watch a movie. After you‚Äôve exercised outdoors, head indoors for hot cocoa and a favorite movie.¬

9. Bake. It‚Äôs easy to keep the kids entertained when you‚Äôre making chocolate chip cookies. Not only do they get to mix and roll ingredients, there‚Äôs a sweet reward at the end.

10. Look through old photo albums. A little nostalgia is a good thing! Take out old photo albums or old home videos and reminisce about the good ole‚Äô days!

Phoenix Metro Leads Nation in Year over Year Home Price Growth
The Phoenix, Arizona metro market has been experiencing a significant rebound with increases in home prices this year.

At the end of October, Phoenix led all cities in the US with a 21.7% year to year increase in home prices. As reported by the Arizona Republic on December 27 in a story by Christopher S. Rugaber of the Associated Press, "Higher prices show the market is improving". It was also reported that prices were pushed up due to: "rising sales and a decline in the supply of available homes". This is coupled with signs of recovery in the Phoenix employment arena and continuing near record low mortgage rates. The Phoenix favorable weather and lifestyle also make it a desirable destination.

The Phoenix metro area led all cities followed by Detroit which experienced a significant but smaller year to year price increase of 10%, Phoenix led the 20 major cities in price gains. Only two of the cities in the survey showed decreases in prices, New York and Chicago. The findings were released on December 26 by the Standard and Poor's/Case-Schiller national home price index.

Scottsdale Luxury Homes are always desirable
Scottsdale. There is somthing about that name.

People know the name from around the world. They may not know Gilbert or Glendale or Mesa but they have heard of Scottsdale. Scottsdale has a reputation for resorts, golf courses, art galleries, fine shopping and restaurants. Yes, the other cities have great attributes also, but there is just something about Scottsdale. People with money look to Scottsdale to live, visit and retire. This desire explains why there are such beautiful custom luxury homes in Scottsdale.

There is urban living in downtown, sophisticated modern suburban estates, mountain view homes, golf course living and horse ranches in the varied Scottsdale environment.

Jeffrey Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com ¬
Lender or Bank Owned Homes For Sale in the Phoenix Metro Area
Although Short Sales are apparently the "new" foreclosure, lender owned properties on the market still offer the lowest prices for buyers. Short sales have replaced lender owned homes as the predominant "distressed" property on the market in the Phoenix Metro area. Lenders appear to be preferring to allow homeowners in default to short sell their homes rather than foreclose on the owners.

Although lender or bank owned homes available on the market are down from last year, prices for these homes are still low as compared to historic highs in 2005 and 2006 as evidenced here by the lender owned homes on the market currently: http://link.flexmls.com/ub1j02wnwdn,12

Homes in the less than $150,000 price range are the hottest and often result in multiple bid situations the first week they are on the market. Cash buyers are making up about 1/2 of the offers submitted in the less than $150,000 price range recently.

This is frustrating for buyers that are financing their purchase as seller like the cash offers. However bargains are there and experts predict home prices to continue to increase into 2013. Mortgage rates remain at close to 40 year record low levels.

Jeff Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com¬
"Seller May Carry" Financing homes for sale in the Phoenix metro area
"Seller May Carry" Homes for Sale in Phoenix metro area are an alternative for buyers that have had a foreclosure, short sale or have some items to clear up on their credit before they can qualify for a new mortgage loan. Here are the Seller May Carry homes available in the Phoenix metro area MLS: http://link.flexmls.com/ub7k1q5dnm5,12¬ to see the types of properties available.

This type of loan is usually offered by a Seller as interim financing. Terms are negotiable but typically a Seller may ask for 15-25% down and a five year loan with a balloon providing time for the buyer to obtain a mortgage loan and pay the Seller the balance..

Expect a Seller to be firm on their price for a seller may carry home. Why? The Seller is taking risk and having to wait for their full payment and giving possession to the Buyer. If they were selling at a discounted price, they would sell to a traditional cash buyer or mortgage loan buyer and walk away from the home without any risk.

However, this type of loan can be enticing to a buyer that does not want to wait 3 years after a short sale to qualify for a new FHA loan or for a buyer that has had a foreclosure with an even longer wait. If the buyer is confident that they can qualify for a new loan in the five years a Seller May Carry interim loan may be right and can return the Buyer to home ownership faster.

Jeffrey Masich, Realtor, GRI, MBAHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com¬
Homes for sale in Scottsdale, Arizona
Homes are selling fast in Scottsdale, Arizona. Prices are up 20 to 30 % from last year.

Here are the single family detached homes for currently for sale in Scottsdale:¬ http://link.flexmls.com/x4hxct1se0y,12 to see current prices.

Home prices in Scottsdale and the Phoenix metro area are continuing their year long surge upward. This with mortgage rates remaining, for the time being, in record low below 4% area continues to make home purchasing affordable and bringing buyers to the market.

Many buyers that have sold their homes via short sale are anxiously returning to the home purchasing market after renting for the past three years. Typically, buyers must wait three years after a short sale before re-qualifying for an FHA mortgage.

Investors from around the country and Canada are continuing to purchase homes for cash. The median home in the Phoenix metro is selling for $157K as compared to $113K a few years ago. This upward selling price trend is evident. The number of foreclosed homes on the market is down with more traditional sales appearing on the market. Short sales have replaced foreclosed homes as the predominant distressed home on the market.

In an article dated December 4, 2012, Catherine Reagor of the Arizona Republic reports that... "The region's median price of an existing house reached $157,000 in October, up from $150,000 during the previous few months, according to Arizona State University's W.P. Carey School of Business.

"The summer lull ended, and we had an influx of snowbirds and other buyers," Mike Orr, director of Real Estate Theory for the business school, said in the report.

Metro Phoenix's median home price is up 34 percent from a year earlier.¬ An increase in sales in October pushed home prices higher."

Ms Reagor's article also indicates that the home sales volume is increasing in addition to prices. This was evidenced in her artilcle by Michael Orr of the W.P Carey School of Real Estate from Arizona State University.¬

"We're seeing about 5 percent more sales activity this October than last October," Orr said.

The article continues, "The price and sales increases occurred as the supply of homes for sale grew.

Some key numbers and trends associated with the rise in home values in the Valley:

The number of houses for sale has increased 31 percent, to 12,500, during the past few months.

New-home sales have jumped 85 percent from last year.

The average price per square foot of all houses sold in October was 26 percent higher than in October 2011.

More regular homeowners are selling or at least putting their houses on the market.

About 76 percent of all houses for sale in the region are priced below $150,000.¬ Investors continue to purchase affordable houses in the area. Almost half of the homes bought for less than $150,000 were paid for with cash.

Foreclosure starts in October were down 41 percent from the same month in 2011. Foreclosures fell 15 percent.

Orr said Phoenix's housing market is shifting toward more normal resales between homeowners and buyers who intend to live in the house. These deals, called normal resales, are up 100 percent from October 2011.

Until recently, investors purchasing from lenders dominated the region's housing market and sparked bidding wars on the most-affordable homes in the best locations.

Orr said many regular buyers searching for houses priced below $150,000, unfortunately, are still being outbid by investors. But he and other housing-market watchers think the big Wall Street-funded investors purchasing most of metro Phoenix's homes will stop buying early next year as prices climb higher.

Orr said the increase in new-home sales and the drop in foreclosures will help the region's home prices continue to rise, but he said he isn't expecting another 5 percent median-price increase for November.

Home values up sharply from a year earlier.¬ October's median price for a detached, single-family home in the Phoenix area was up 34.4 percent from the same month a year earlier, according to an Arizona State University report."

Source of above information: Arizona Republic, Catherine Reagor

The projections for the coming months continue to be up for the number of homes sold and prices. Buyers with a pre-approved mortgage loan may have to bid on multiple homes in the lower end of the market to win a similar bid from a cash buyer. Multiple offers on homes priced less than $200,000 are very common in many areas of the Phoenix metro area.

Holiday Lights at McCormick Ranch Railroad Park in Scottsdale
Have fun with your family with little or no cost at the McCormick-Stillman Railroad Park at McCormick Ranch in Scottsdale, Arizona.

Per the Railroad Park, "Arizona‚Äôs most unique holiday event, take a train ride through hundreds of thousands of lights and a variety of holiday displays turning the Railroad Park into a winter wonderland. Opening night festivities will begin at 6:30pm and includes a tree lighting ceremony, entertainment and a visit from Santa. Santa will be at the park through December 23rd. Train & Carousel rides are $2.00 each with children under three riding free with a paying adult. December 14th - January 5th, excluding Dec. 24th, 25th & 31st. (2012) 6:30p.m. ‚Äď 9:00p.m."

Jeffrey Masich, RealtorHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things To Do" in Arizona for today or through November 2012
"Things To Do" in Arizona for today or through¬ November 2012. The activites listed here are dynamic and updated daily with the latest urban and rural events, arts, sports, recreation, music, hiking, farmers markets, and local festivals: http://ow.ly/aUPj8 . There are separate searches for the Phoenix and Tucson metro areas and another search for activities throughout the state.

Arizona is a beautiful state, but there is so much more to do than the "Grand Canyon" and golf.

Find out and stay up to date with activities from Scottsdale to the Phoenix metro to Tucson, Sedona and throughout the state.

Short sales continue to be the predominant but declining type of sale on the market. More traditonal sales are now coming on the market with home prices continuing their increase in 2012. Traditional sales close quickly. Short sales continue to stay on the market pending the seller's approval for a longer period of time.

Home prices are expected their steady upward increase say many experts.

Home prices in the Phoenix metro have increased to a median of $150,000 from $113,000 a few years ago. This is well below the high water mark of $228,000 in 2005. However analysts forecast prices to increase steadily during the coming years. This is furhter aided by record low mortgage rates that are still hovering in the below 4% range for a 30 year fixed for buyers with good credit.

Catherine Reagor of the Arizona Republic, reported in her October 28, 2012 article, "Metro Phoenix home prices are expected to continue climbing during the next few years.

Housing analysts agree that demand for homes in the region is strong, and many don't appear to be concerned about prices rising too fast and shutting the door on regular homebuyers or investors.

Several experts are looking for metro Phoenix home prices to climb more than 10 percent annually during the next three years.

¬ "We think Phoenix home prices will appreciate 12 percent in 2013, 12 percent in 2014 and 10 percent in 2015," said national housing analyst John Burns of Los Angeles.

He said the price increases will be driven by "boomerang" buyers who purchase after waiting three years -- as required under new credit standards -- following a foreclosure or short sale.

"Our major assumption is continued strong economic growth (for Phoenix) and low mortgage rates," said Burns of John Burns Real Estate Consulting.

The Phoenix area's median home price has jumped by 35 percent during the past year, boosting the number of sales by homeowners who are not facing foreclosure or a distressed sale. The price gains in recent months have been smaller than earlier this year.

Matt Widdows, CEO of HomeSmart, Arizona's largest residential-real-estate brokerage, is also bullish on a further rebound in home prices.

"I would say that in the next five to seven years, we will see (home) prices back to levels we saw in 2005," he said. "Many (Phoenix-area) homes dropped to one-third of their value in 2005, and I have no doubt that we will be right back to those levels."

These might sound like aggressive forecasts, but even Arizona economist Elliott Pollack, whose forecasts are often conservative, recently projected Phoenix-area home prices would climb 50 percent by 2015-16.

Metro Phoenix's median home price is currently $150,000, so it would have to increase at least 11 percent annually over the next four years to reach $225,000, a 50 percent increase.

In May 2005, the median existing-home price in metro Phoenix was $228,000.

Other analysts aren't as bullish.

Mike Orr, an analyst with the W.P. Carey School of Business at Arizona State University, tracks home sales daily but never forecasts home prices more than a month out.

"At the moment, pricing pressure is upwards, but there is always the potential for prices to dip," he said. His monthly report on prices is due out this week.

An unknown for the housing market is what the handful of large investors who are buying thousands of homes in metro Phoenix plan to do with them.

If they decide to sell around the same time, the supply of homes could jump, dampening prices.

That's unlikely to happen, at least in the short term, industry experts say.

"We wouldn't sell now," said Justin Chang, a principal with one of the biggest residential investors in the country, Los Angeles-based Colony Capital. "We think (Phoenix) home prices will recover more."

He said the company wants to create a real-estate investment trust next year and put its metro Phoenix rental homes in the trust, then sell shares to individual investors.

Mark Stark, CEO of Prudential Arizona Properties, believes the increase in home prices has slowed and the market has steadied.

"If additional price increases do happen, I feel they will be gradual," Stark said. "We're not looking at any dramatic pricing changes."

Homebuilding in metro Phoenix was a dominant factor in the housing market until the crash. Many buyers once again are opting for new homes so they don't have to compete in bidding wars for inexpensive existing houses.

New-home building has more than doubled this year, and the price of new houses is climbing.

"We originally forecast 10,000 permits for new homes this year, but we are going to go well past 11,000," said Greg Burger, co-publisher of the Phoenix Housing Market Letter.

He said he expects the trend of rising new-home prices to continue for the next few years. The median price for a new Phoenix-area home is $222,000.

"Buyers waiting for the bottom of the market missed out months ago," Orr said."

This is good news for home sellers that have been waiting on the sidelines to sell their homes. The news for buyers is good now. Home prices are expected by many to increase as mortgage rates are at record lows.

Octoberfest Festivals! "Things to Do" in Arizona during October
It is time for the many Octoberfest festivals throughout Arizona. Check out the lists of "Things To Do" in Arizona for today or through October 2012. The activites listed here are dynamic and updated daily with the latest urban and rural events, arts, sports, recreation, music, hiking, farmers markets, and local festivals: http://ow.ly/aUPj8 There is a separate search for the Phoenix and Tucson metro areas and another search for activities throughout the state.

Arizona is a beautiful state, but there is so much more to do than the "Grand Canyon" and golf.

Find out and stay up to date with activities from Scottsdale to the Phoenix metro to Tucson, Sedona and throughout the state.

Have fun!

Jeff Masich, RealtorHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things to Do" in Arizona for September
"Things To Do" in Arizona for today or through¬ September 2012. The activites listed here¬ are dynamic and updated daily with the latest urban and¬ rural¬ events, arts, sports, recreation, music, hiking, farmers markets, and local festivals: http://ow.ly/aUPj8¬ There is a separate¬ search for the Phoenix and Tucson metro areas and another search for activities throughout the state.

Arizona is a beautiful state, but there is so much more to do than the "Grand Canyon" and golf.

Find out and stay up to date with activities¬ from Scottsdale to the Phoenix metro to Tucson, Sedona and throughout the state.

Have fun!

Jeff Masich, RealtorHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things To Do" in Arizona for August 2012
"Things To Do" in Arizona for¬ August 2012 or today. Dynamic and updated daily with the latest urban events, arts, sports, recreation, music, hiking, farmers markets, and local festivals: http://ow.ly/aUPj8

Arizona is a beautiful state, but there is so much more to do than the "Grand Canyon" and golf.

Find out and stay up to date from Scottsdale to the Phoenix metro to Tucson, Sedona and throughout the state.

Have fun!

Jeff Masich, RealtorHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
Phoenix second to only Orlando's year to year decline in foreclosure home inventory in Q2

The available foreclosure home"for sale"¬ inventory in the Phoenix metro market is continuing to decline. The result? Prices are continuing to increase.

Kristena Hansen of the Phoenix Business Journal reported on July 31, 2012, "While recent improvements in foreclosure activity nationwide seem to be tapering off, the latest CoreLogic housing report released Tuesday shows Phoenix posted the second largest year-over-year decline in foreclosure inventory during the second quarter.

Foreclosure inventory is defined by CoreLogic as the share of homes undergoing some stage of the foreclosure process out of all mortgaged homes. In the Phoenix area, the foreclosure inventory declined 1.1 percentage points from last year, the second-biggest drop among the 25 large metro areas that were examined in the report.

The decline brought the Valley‚Äôs foreclosure inventory rate to 2.5 percent for the second quarter, tying with the Los Angeles, Sacramento, Calif., and Washington markets for 12th highest rate, the report said.

While the Orlando, Fla. market posted the largest year-over-year decline in foreclosure inventory, 1.3 percentage points, the area still had the second-largest foreclosure inventory at the end of the second quarter. About 11.7 percent of all mortgaged homes in Orlando were facing foreclosure at the end of the second quarter.

Despite its declining foreclosure inventory, the Phoenix area still had the second-highest number of homes that were foreclosed on during the 12 months ending in June, the report said.

Metro Phoenix had 34,097 total completed foreclosures in the past 12 months, behind only the Atlanta‚Äôs 37,165.

Nearly 47,000 foreclosures have occurred in Arizona during the past year, the 6th-highest figure of all states behind California‚Äôs 124,262; Florida‚Äôs 90,961; Michigan‚Äôs 57,980; Texas‚Äô 56,131; and Georgia‚Äôs 54,600.

Despite the year-over-year declines in foreclosures and foreclosure inventory, CoreLogic analysts say the improvements may be short lived as the nation saw no improvements from May to June."

Mortgage rates drop again...3.53% for 30 Year Fixed... Lowest since 1971
National mortgage rates declined again for the week ending July 19, 2012 to 3.53% from 3.56% the prior week. This is another record low. The lowest since 1971.

For those that have higher mortgages this is an excellent time to refinance. For those that have solid jobs with good credit and have been looking to buy a home, mortgage rates are at historic lows.

Inman News reported on July 23, 2012: "Although low rates have spurred another refinancing boom, many would-be homebuyers fear the possibility of another economic downturn, or are unable to obtain a mortgage, limiting the beneficial impacts that low borrowing costs would otherwise have on the economy."

Fifteen (15) year mortgages also declined per Inman, "Rates on 15-year fixed-rate loans averaged 2.83 percent with an average 0.6 point, down from 2.86 percent last week and 3.66 percent a year ago. That's a new all-time low in records dating to 1991."

A "Beacon of Hope", Phoenix "leads the pack" in national real estate recovery
The Phoenix metro housing market continues¬ a strong rebound in 2012. Factors for the rebound? Diminishing supply of homes, fewer foreclosures, record low mortgage rates, out of town cash investors, pent up demand from buyers that have been waiting and the fact that the Valley of the Sun is a good place to live.

Mortgage rates dipped to new record low territory again to 3.56% for the week ending July 14. This is the lowest for a 30 year fixed loan since 1971.¬ Homes are still afordable at these rates.

Multiple Offers are Back in the Phoenix Metro
Mutiple offers are back and happening in the Phoenix metro area market.

Rimedia reported on July 9, 2012, "‚ÄúThe Phoenix Metro Area Housing Market faces multiple offers even in the higher end and luxury market as buyers try to snag homes before the market rises further. We have seen multiple offers for quite some time in the lower price ranges, but now as the market is returning, and returning strong, we are seeing multiple offers in the higher price ranges. We are now seeing multiple offers on homes in the move-up and luxury home market. We are seeing offers that are $50,000 over asking that are not the winning bid. This is causing quite a bit of frustration as buyers are trying to get into a home before the market prices go up further,‚ÄĚ reported Brenda & Ron Cunningham, real estate professionals in Arizona."

I personally witnessed a lower priced home with 50+ offers in June. Many of these offers¬ were cash. This is good news for sellers and not so good news for buyers.

Jeff Masich, RealtorMBA, BS Accounting, Certified Cash Manager, Certified Short Sale NegotiatorHomeSmart RealtyScottsdale, AZhttp://ArizonaHomesLand.com
"Housing Bust is Over" the Wall Street Journal Reports
The Wall Street Journal reported on July 11, 2012¬ that the 7 year housing bust is over. Although prices are still lower than they were in 2006, the worst is behind us. Prices have started a steady increase, especially in the Phoenix metro market. This is good news for sellers that have held and have been renting their homes out or hanging on to downsize or move.

For buyers the news is good even with prices increasing. The already record low mortgage rates declined again to 3.55% for a 30 year fixed mortgage. this is the lowest since 1971.

Going Down! Mortgage rates dip to lowest since 1971 at 3.62%
Mortgage rates dipped to new record low territory to 3.62% for the week ending July 5. This is the lowest for a 30 year fixed loan since 1971.

For those that are employed and have good credit, this makes it a good time to buy or re-finance.Inman News¬ reported on July 10, 2012, "Mortgage rates sank to new lows this week as fears about a U.S. economic slowdown and the impact of the European debt crisis continue to make Treasuries and bonds that fund most mortgages look like safe bets to investors.

Rates on 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.8 point for the week ending July 5, down from 3.66 percent last week and 4.60 percent a year ago, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey. That's a new all-time low in Freddie Mac records dating to 1971.

For 15-year fixed-rate mortgages, rates averaged 2.89 percent with an average 0.7 point, down from 2.94 percent last week and 3.75 percent a year ago. That's also an all-time low in records dating to 1991."

"Things To Do" in Arizona for July 2012
"Things To Do" in Arizona for July 2012 or today. Dynamic and updated daily with the latest urban events, arts, sports, recreation, music, hiking, farmers markets, and local festivals: http://ow.ly/aUPj8

Arizona is a beautiful state, but there is so much more to do than the "Grand Canyon" and golf.

Find out and stay up to date from Scottsdale to the Phoenix metro to Tucson, Sedona and throughout the state.

There are free movie¬ nights in comfortable theaters and¬ more CDs than Redbox has to check out. Plus you can get classic movies and entire series of past television shows.¬ How about the original Dallas, Bonanza, Chuck, Doc Martin? Yes, all for free. You are a citizen and there still is a free lunch (evidently).

A side benefit(s)? The library is air conditioned, has comfortable seating, free computer access and guess what.... you can read a book.

Have fun and save money.

Jeff Masich, RealtorHomeSmart RealtyScottsdalehttp://ArizonaHomesLand.com
Surfing in Scottsdale? Yes! Westin Kierland water park in August 2012
Westin Kierland resort in Scottsdale¬ is adding to their water park experience a new radical surfing machine. Yes, the "Flowrider" will be opening in August.

Ride a radical wave in the Desert. Who would have thought this was possible?

This is the wave experience¬ that the California "Surfer Dudes" wait hours to find.¬ The agressive wave ¬ powers up right away. Ride it until¬ you lose it.

Jeff Masich, RealtorHomeSmart Realtyhttp://ArizonaHomesLand.comScottsdale, Arizona
Mortgage Rates End 6 Straight Weeks of Decline, Still Low at 3.71%
Mortgage rates end six straight weekly decreases. 30 year fixed rate is¬ still near record low of 3.71% dating back to 1971. See Inman News report: http://ow.ly/bRIgL

Eight of Ten new applications are for refinancing. The record low rates plus low home prices creating demand. Home prices have been rising in the Phoenix metro in 2012.

Jeff MasichHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
"Things To Do" in Arizona for June through the Fourth of July
"Things To Do" in Arizona. Dynamic and updated daily for June 26 through the 4th of July¬ with the latest urban events, arts, sports, recreation, music, hiking, farmers markets, and local festivals: http://ow.ly/aUPj8¬ Check in often for updates of "Things to Do" each week. Always up to date.

Arizona is a beautiful state, but there is so much more to do than the "Grand Canyon" and golf.

Find out and stay up to date from Scottsdale to the Phoenix metro to Tucson, Sedona and throughout the state.

The temperatures are not the only thing that are rising in the Phoenix metro real estate market. Yes, temperatures are at 100 degrees and rising. Home Sales also are HOT in the $100K price range. Homes under $150K in decent areas are going very quickly¬ with multiple bid situations common. Prices are going up also.

The Arizona Republic reported on June 16, in an article by Lesley Wright:¬ http://www.usatoday.com/USCP/PNI/Business/2012-06-16-PNIbiz-wv-regional06162012Republic1BusinessCPNIBrd_ST_U.htm¬ ,¬ "For real-estate agents, homebuyers and especially homesellers, the West Valley is burning up, especially for homes less than $150,000.¬ 'West Valley is really, really a hot market,' said Chris Heagerty, director of the Arizona Regional Multiple Listing Service Inc.¬ That heat is strongest in the market for homes of $100,000 to $150,000, forcing new buyers to move to higher ranges."¬ This has given¬ hope and¬ light at the end of the tunnel for traditional home sellers as they finally see the number of distressed properties¬ lessening and prices increasing.¬ The Phoenix metro area¬ is leading the nation in price increases year of year for the past quarter.

Ms Wright, reports that "Distressed properties, those houses owned by people facing foreclosure or short sales, still make up the bulk of sales. But ARMLS statistics show they have decreased in metro Phoenix to about 43 percent in May. That's a drop compared with their high-water mark in September 2010, when distressed properties made up 74 percent of homes sold."

Short sales are becoming the "new" foreclosure.

Ms. Wright¬ further reports, "An equally significant number is the ratio of short sales -- in which a home sells for less than is owed on its mortgage -- to foreclosure. ARMLS statistics show that metro Phoenix had 2,245 short sales in May compared with 1,423 foreclosures. Short sales increased that month by 5.5 percent over April figures, while foreclosures decreased by 1.9 percent."

Mortgage rates remain at the lowest levels since 1971, helping to fuel the resurgence of the Phoenix real estate market.

Fixed Mortgage Rates Decline for Sixth Consecutive Week...Lowest since 1971
Fixed mortgage rates are continuing their downward spiral for the sixth consecutive week to 3.67% through June 7 for a 30 year fixed from 4.49% a year ago. This is the lowest mortgage¬ rate since 1971. For more details see this article from Inman News:http://lowes.inman.com/newsletter/2012/06/08/news/190628

This is good news¬ for buyers as homes remain very affordable even with the recent rise in prices in the Phoenix metro area. It is also good for those considering refinancing their homes.

Jeff Masich, RealtorHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
Phoenix Area Home Prices Up 25% from a Year Ago
Phoenix metro area¬ home prices continue their price surge, up 25%,¬ through April 2012 as the supply of homes for sale dwindles.

The Arizona Republic reported on the front page June 1, 2012 in an article by Real Estate writer, Catherine Reagor, http://www.azcentral.com/arizonarepublic/news/articles/2012/05/31/20120531phoenix-area-housing-prices-rise.html¬ ,¬ "Arizona State University's latest real-estate report shows the median home price in the Phoenix area climbed again in April to $140,000 -- 25 percent higher than the year before. Helping push up prices is a limited supply of homes for sale and a growing pool of buyers. If those trends hold, the outlook is for home prices to keep rising, which could be good news for many owners who for years have owed more than their houses have been worth."

What does this mean? Well, good news is on the way for home sellers that have been waiting to put their homes on the market until prices started to return to pre 2006 (real estate down turn) levels. Mortgage rates remain low for home buyers, however with pent up demand, cash buyers are buying most of the homes. Why? Home appraisals are not keeping up with increasing demand and prices for homes. This makes qualifying for a home with a mortgage more difficult for a buyer, unless they can put down a larger down payment.

Buying with a 3.5% FHA down payment and qualifying with a bank's appraisal utilizing older pricing comparables is difficult in the current market.

Ms. Reagor also reported some other interesting market dynamics, "The report (Arizona State University)¬ highlights some significant movements in the market:

Fewer houses for sale: Supply has dwindled as a smaller number of foreclosure homes go up for sale, and the number of homes on the market is at its lowest since the pre-2007 boom. There are about 8,800 houses for sale without a pending contract from a buyer. In 2008, there were more than 50,000. The total number of sales was down, as well, about 12 percent lower than in April 2011.

Declining foreclosures: The number of foreclosures was down 62 percent from a year earlier, to approximately 1,600."

Buyers are feeling they need to act now before the market goes even higher.

Jeff Masich, RealtorHomeSmart RealtyScottsdale, Arizonahttp://ArizonaHomesLand.com
Phoenix Metro Real Estate is Rebounding
The corner has been turned as the Phoenix real estate market.¬ ¬ The market which has been¬ down since 2006 is¬ now officially¬ on the rebound. Starting in November 2011 and continuing through through into 2012 the market is strong. In fact, the Phoenix metro has one of the strongest year over year 2011 to 2012 listing price increases in the United States. Average list prices are up over 20% in many areas¬ from this time a year ago.

This is good news for home sellers on the fence about listing their homes. There is light at the end of the tunnel after six years of a general down turn in Real Estate prices.

There are still areas that are doing better than others. The under $100,000 homes are often gone in less than a week. I personally have had clients bid on homes in May with over 30 offers each. Investors are back in the market and owner occupants with cash are snatching up these low cost homes. Owners with a loan are bidding multiple times before finding a home.

The median list price for homes in the Phoenix metro has increased 23% to $138K in April¬ after being at $112K at the real estate down turn low point of August 2011. Mortgage rates are still low and there are still bargains out there although less than in the previous several years. Inventory of available homes on the Phoenix MLS is now fluctuating at about 12,500 available¬ properties. Although this may sound large, this is about 1/2 of what was available a year ago.

Buyers are thinking that¬ they have waited long enough and are back in the market. Other buyers that have good jobs and lost their homes¬ to foreclosure or short sale after 2006 are back in the market after renting the past several years. There is pent up demand out there.

The Arizona Republic has predicted home prices to continue to rise through 2012. Why? It is all about supply and demand. The supply of homes is declining and prices are rising. There were only 1,650 homes foreclosed on in April which is the lowest monthly total since December 2007. This indicates the availabiltiy of bargain homes for buyers will continue to be low in coming months when these¬ newly foreclosed¬ homes are put on the market by the lenders.